News Release

GARLAND, Texas, March 26, 2014 /PRNewswire/ -- Raytheon Company (NYSE: RTN) today announced plans to move its Garland, Texas, operations to a new state-of-the-art office complex to be built at the CityLine development in Richardson, Texas. Raytheon will occupy 489,000 square feet in three buildings located near the intersection of President George Bush Turnpike and North Central Expressway (US 75), and will begin the move in the fourth quarter of 2015, depending on the construction schedule.

"Moving our Garland operations to this state-of-the-art facility in Richardson, Texas, will provide an outstanding modern work environment for our 1,700 employees and visitors and will allow for expansion as our business grows," said Lynn Dugle, president of Raytheon Intelligence, Information and Services (IIS). "Our new offices will also help us support the missions of our customers and will better reflect our role as a global technology and innovation leader in such areas as information processing, big data, cyber security, and weather data exploitation."

Raytheon's Jupiter Road complex in Garland dates back to the 1950s. Several options are being pursued regarding the future of the site. Throughout North Texas, the company has approximately 8,000 employees, and in addition to IIS, Raytheon's Missile Systems, Space and Airborne Systems, and various corporate operations are located in the area. Last year, SAS relocated its headquarters to McKinney, Texas, from Southern California.

About RaytheonRaytheon Company, with 2013 sales of $24 billion and 63,000 employees worldwide, is a technology and innovation leader specializing in defense, security and civil markets throughout the world. With a history of innovation spanning 92 years, Raytheon provides state-of-the-art electronics, mission systems integration and other capabilities in the areas of sensing; effects; and command, control, communications and intelligence systems, as well as cyber security and a broad range of mission support services. Raytheon is headquartered in Waltham, Mass. For more about Raytheon, visit us at www.raytheon.com and follow us on Twitter @Raytheon.